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Swiss Refiner Delays Hit 5 Weeks On Massive Gold Demand

Today Egon von Greyerz told King World News that delays from Swiss gold refiners have expanded to a stunning 5 weeks. KWN readers need to remember that the Swiss refiners refine over 75% of the world’s gold supply. Greyerz also discussed what is happening with gold demand in other key markets. Below is what Greyerz, who is founder of Matterhorn Asset Management out of Switzerland, had to say in this remarkable interview.

Today Egon von Greyerz told King World News that delays from Swiss gold refiners have expanded to a stunning 5 weeks. KWN readers need to remember that the Swiss refiners refine over 75% of the world’s gold supply. Greyerz also discussed what is happening with gold demand in other key markets. Below is what Greyerz, who is founder of Matterhorn Asset Management out of Switzerland, had to say in this remarkable interview.

“Paper money hides the truth, and the truth is that most of the increase we have seen in paper wealth is illusory both for individuals and for the world. But it suits the governments to fool their people. This gives them the best chance of being reelected and they also engage in theft through inflation.

So as we have discussed many times, Eric, not only have investors’ assets gone down by 60% to 80% in real terms over the last 13 years, but they are likely to decline another 90% in the next few years vs gold. The Dow for example, which now has a 10/1 ratio vs gold, is likely to go down to a 1/1 ratio or even below.

Will the level be $10,000 for gold or $100,000 or $100,000,000? Well, that depends on how much money will be printed and what the level of hyperinflation will be. But regardless, all assets that have been fueled by the credit bubble will decline in real terms.